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QT Vascular inks non-binding agreement for potential transaction on catheter assets

CATALIST-listed QT Vascular has inked a non-binding term sheet with an "international industry player" for a potential transaction related to its Chocolate PTA Balloon Catheter assets.

The term sheet, signed on July 18, is non-binding as the commercial terms for the potential transaction remain indicative and is subject to discussions among the parties, it said in an announcement to the Singapore Exchange.

QT Vascular is concurrently evaluating these terms and may need to seek further clarifications from the potential party as discussions progress towards the signing of a definitive agreement .

The counter gained 0.1 Singapore cent or 1.2 per cent on Tuesday to close at 8.7 Singapore cents.